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Bank overdrafts!!!!

I was checking my account online and saw that my insurance company pulled out on the wrong date and sent my account into a tailspin of overdraft fees and now my account is at like almost -$200!!! Who is the best person to talk to about this-the bank or insurance company?? Totally pissed!!

Answer Question
 
Anonymous

Asked by Anonymous at 12:44 PM on Jun. 2, 2009 in Money & Work

Answers (7)
  • talk to the insurance company since they are the ones that took the money out on the wrong date! good luck
    Goingthruitall

    Answer by Goingthruitall at 12:46 PM on Jun. 2, 2009

  • Bank first. Was this done very recently? If so, depending on your bank they may try and run it through again if you have th money now. If I were you I'd get overdraft protection and keep money in your savings account so this doesn't happen. If your bank doesn't have it go elsewhere. We dumped banks over 20 yrs ago and now belong to 2 different credit unions. Much friendlier and alot better service.
    Check with your insurance co to see why they did the auto withdrawl on the date they did it. I never have anything auto withdrawn for just this reason. I can pay my own bills online when I need to. Ther have been many times i needed to shift a bill or 2 depending on the date my dh got paid.
    itsmesteph11

    Answer by itsmesteph11 at 12:51 PM on Jun. 2, 2009

  • I would call the bank and let them know that it was your insurance company. But they will probably tell you to call and talk to your ins comp first. Don't let them give you the run around though. We have Bank of America and something similar happened once and they told me to call the company then they told me to call the bank. It was your insurance companies fault but if you dont get a lot of overdraft fees the bank may just take it off
    CaliMama88

    Answer by CaliMama88 at 1:18 PM on Jun. 2, 2009

  • You need to call your insurance comapny tell them they pulled your money out to early now you are being nailed with bank fees. This is clearly their fault. Hopefully they will work something out with you since it was their fault. If they wont help by making it right with your bank cancel your automatic payment and if it were me I would be looking into new insurance as far as your bank some banks will give you one free bank fee waiver a year maybe you could ask them if they would take away one of the fees speak with your bank manager tell him the situation.
    okmommy08

    Answer by okmommy08 at 1:25 PM on Jun. 2, 2009

  • Assuming they pulled it out on the wrong date the insurance company would be wrong and you should contact them. I would look at anything they have sent you if they sent you a letter stating the date had changed they are not liable for anything. If they did make a mistake they will need to correct it. I would find any documentation you have showing they can only take it out on certain dates and have it handy when calling. If you don't have this you will be SOL.
    Anonymous

    Answer by Anonymous at 1:50 PM on Jun. 2, 2009

  • I had something similar to this happen a few years ago... and had to eat every last penny of the overdraft fees. According to the company that pulled the money out early, it was not their fault that there was not enough money in there to cover everything. And the bank really doesn't care at all.
    Anonymous

    Answer by Anonymous at 3:41 PM on Jun. 2, 2009

  • BOTH!! Call the bank, explain what happened, call the insurance company and tell them to send you a certified letter stating that they are pulling "x" amount on "x" date, and if possible get them to write something saying that they had pulled money out on the wrong day. Send a copy of the letter to the bank. And definitely ask the bank to waive all the fees related to it. Keep calling until they waive them.
    Erica_Smerica

    Answer by Erica_Smerica at 4:38 PM on Jun. 2, 2009

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